Paris-based Sequans Communications plans to raise $385 million through debt and equity offerings to fund a Bitcoin acquisition strategy

Paris-based Sequans Communications is a cellular IoT semiconductor company that announced in June 2025 a plan to raise roughly $385 million through debt and equity financing to launch a Bitcoin treasury strategy. The company said it would use the proceeds, along with operating cash flow, to accumulate Bitcoin as a reserve asset; shortly after the initial announcement, Sequans said it had already acquired 370 BTC and later set a much larger long-term target of 100,000 BTC by 2030. The story matters because it shows how a small public technology company tried to use capital markets to build a corporate Bitcoin balance sheet, a model associated with newer “Bitcoin treasury” plays rather than traditional operating finance. Sequans’ later disclosures also show the risks of that approach: by 2026 the company had started unwinding the strategy, selling Bitcoin to retire convertible debt and reduce leverage, after Bitcoin’s price fell sharply from its highs.

✨ AI-generated background, compiled from web sources — not editorial content.

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